THE average price of new homes in Shanghai last week surged to the highest in 15 weeks amid an improved sentiment in the mid to high-end segment although transaction volume dipped, according to data yesterday.
Two apartments were sold last week for over 100 million yuan (US$15.87 million) each, indicating a continued positive mood among buyers of luxury properties.
The average price for new homes, excluding government-funded affordable housing, rose 9 percent from the previous week to 24,073 yuan per square meter while weekly purchases shed 2.1 percent to 197,700 square meters, according to Shanghai Deovolente Realty Co.
"A couple of luxury developments on both sides of the Huangpu River registered pretty good sales last week, led by Casa Lakeville in Puxi and Ocean One in Pudong," said Lu Qilin, a Deovolente researcher. "So far this year, only three apartments in Shanghai fetched a total price exceeding 100 million yuan and two were sold last week."
A 686 square-meter apartment at Casa Lakeville, a Shui On development in Xintiandi, was sold for 111.78 million yuan, or 163,000 yuan per square meter, while a 592 square-meter unit at Ocean One, a COFCO development in the heart of Little Lujiazui, fetched 101.94 million yuan, or 172,000 yuan per square meter, the data showed.
In September, a 619 square-meter duplex apartment at Ocean One was sold for 116 million yuan, making it the city's most expensive apartment by price.
As of Sunday, 529,700 square meters of new homes were sold in November, a monthly jump of 20 percent in October and up 22 percent in September.
Landmark building should respect the public's feeling
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